Western subsidies and eastern reform

Article Abstract:

It is possible for poor countries to survive without subsidies from Western sources. In fact, because subsidies sustain government' resources, patronage and power, they contribute to the politicization of life in these countries. As a result, governments spend more time on political rather than productive activities. In the process, the entry of foreign equity capital is restricted. Positive impact is limited to lowering costs of resources which are not critical to economic development while adverse effects are concentrated on economic determinants such as repressive government policies. Western donors should give subsidies in the form of bilateral grants.

Subsidies

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B.R. Shenoy: stature and impact

Article Abstract:

Indian economist B.R. Shenoy gained his greatest distinction from his paper 'Note of Dissent' and the book 'Problems of Indian Economic Development. The former was attached to Second Five Year Economic Plan submitted to Prime Minister Jawaharlal Nehru in 1956. It demonstrated the extent of his moral courage in that he dared to declare a dissenting view on the traditional Western economic perceptions and beliefs held by Nehru at the height of the latter's powers. He pointed out the weakness of an economic forecast that bases its growth on the productivity of people living on subsistence levels.

Behavior, India, Economic forecasting, Economists, Shenoy, B.R.

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The pitfalls of external aid

Article Abstract:

Centrally planned economies such as that of the Soviet Union and other East European nations need assistance to successfully shift to a market economy. However, economic assistacne to governments which show no commitment to democracy and free markets can be dangerous. Western lending institutions can aid the Soviet Union by lowering trade barriers and promoting free trade policies. Government-to-government transfers of aid may be most effective because this would create the conditions necessary for making the transition to a merket economy as quickly as possible.

Soviet Union

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